Primo Water Co. (PRMW) to Post Q1 2017 Earnings of ($0.28) Per Share, B. Riley Forecasts
Primo Water Co. (NASDAQ:PRMW) – Investment analysts at B. Riley dropped their Q1 2017 earnings per share estimates for Primo Water in a research note issued to investors on Thursday. B. Riley analyst K. Anderson now anticipates that the brokerage will earn ($0.28) per share for the quarter, down from their previous forecast of ($0.15). B. Riley has a “Buy” rating and a $16.50 price objective on the stock. B. Riley also issued estimates for Primo Water’s Q4 2017 earnings at $0.04 EPS and FY2017 earnings at ($0.10) EPS.
Primo Water (NASDAQ:PRMW) last issued its quarterly earnings data on Wednesday, March 15th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.25. The business earned $40.40 million during the quarter, compared to analyst estimates of $37.85 million. Primo Water had a net margin of 4.34% and a return on equity of 24.69%. The firm’s quarterly revenue was up 28.3% on a year-over-year basis. During the same quarter last year, the business earned $0.04 EPS.
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A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Primo Water from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Saturday. Barrington Research reiterated an “outperform” rating and set a $16.50 price target (up from $15.00) on shares of Primo Water in a research report on Thursday, March 16th. Finally, Lake Street Capital reiterated a “buy” rating and set a $20.00 price target (up from $16.50) on shares of Primo Water in a research report on Thursday, March 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $17.25.
Primo Water (NASDAQ:PRMW) opened at 14.07 on Monday. The company has a 50-day moving average of $14.44 and a 200-day moving average of $13.02. The company has a market cap of $366.41 million, a price-to-earnings ratio of 72.53 and a beta of -0.21. Primo Water has a one year low of $8.80 and a one year high of $15.39.
Large investors have recently made changes to their positions in the stock. ARS Investment Partners LLC bought a new stake in shares of Primo Water during the fourth quarter valued at $1,521,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of Primo Water by 15.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,105 shares of the company’s stock valued at $198,000 after buying an additional 2,189 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Primo Water during the fourth quarter valued at $316,000. Axiom International Investors LLC DE boosted its stake in shares of Primo Water by 128.1% in the fourth quarter. Axiom International Investors LLC DE now owns 335,319 shares of the company’s stock valued at $4,118,000 after buying an additional 188,304 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Primo Water during the fourth quarter valued at $208,000. Hedge funds and other institutional investors own 56.78% of the company’s stock.
In other news, VP David J. Mills sold 5,669 shares of the company’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $13.00, for a total transaction of $73,697.00. Following the sale, the vice president now directly owns 16,351 shares in the company, valued at $212,563. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 18.70% of the company’s stock.
Primo Water Company Profile
Primo Water Corporation is a provider of multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. The Company conducts its operations through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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